Background*

Mr. Sebastian Evans has been Managing Director of NAOS Asset Management Limited since September 2008. Mr. Evans has been the Fund Manager for the Emerging Fund since September 2008. He has been a Secretary of NAOS Absolute Opportunities Company since September 2008. He serves as a Senior Associate of the Securities Institute of Australia (FINSIA). Mr. Evans has 9 years of experience in the Australian securities industry. He also served as the Fund Manager of Long Short ... Fund. Prior to this, he served as an Investment Analyst at the Manager since 2007 and a Stockbroking Assistant at RBS Morgans. During his time as Fund Manager for the Emerging Fund, the Emerging Fund ranked in the top 4% of all hedge funds worldwide whose performance data is published by Bloomberg for calendar years 2006, 2009 and 2010 and was ranked by Australian Fund monitors in the top 5 hedge funds over the 48 months to December 2009. He also contributed to a number of industry publications such as the Australian Financial Review, The Australian, Business Review Weekly (BRW), Money Magazine and the Eureka Report. He serves as a Director of NAOS Absolute Opportunities Company. He has been Director of NAOS Emerging Opportunities Company Limited since November 6, 2012. Mr. Evans holds a Bachelor of Commerce Degree with a double major in Finance and International Business from Bond University and a Masters of Applied Finance from Kaplan Higher Education. He also holds a Diploma in Financial Services and is RG 146 certified.

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